B2B Vault Episode 19: Ecommerce Payment Solutions For Merchants

Written by Allen Kopelman

November 15, 2021

11 reasons to chooce npsbank for high risk businesses

Video Transcription

Hey, welcome to another episode of B2B vault. So this one we’re going to title up e-commerce for beginners. And you know, here making this podcast. And I have my trusted assistant Justin, and he’s the ecommerce guru because he’s the one who helps me produce the podcast, make these videos that everybody’s watching. And he helps make our website along with our graphic designer, Samantha and make everything look nice. So, you know, we were talking about, you know, e-commerce for beginners, what should somebody know about e-commerce? So when I think about this, there’s a lot of people, especially in the pandemic, everybody’s trying to get online. You have a, maybe you already have a retail store. Maybe you don’t have a store at all. Maybe you decide like, Hey, I need to have a side hustle, a side business, or maybe, you know, somebody who has a product and you decide to like, Hey, I could sell this product online. So there are many, many ways you can start your e-commerce business and how you do it and all that.

So a lot of people don’t know how to build a website, so they start and they go to, uh, a platform. So one of the things is that now a lot of these platforms are kind of like closing off to outside credit card processing. So, you know, platforms like WooCommerce are wide open. You can go to any credit card processor, 3d card is somewhat wide open, but not fully to where you have to do things. And big commerce and Wix are both Mo you know, basically have made moves recently to, um, to, to, to, uh, close off a lot of outside credit card processors. They will allow it for the customers who are already there, but for new customers, you know, they’re offering Stripe or PayPal or something on Wix, for sure. Big Commerce. I’m not a hundred percent sure what they’re doing, but there are many other, shopping platforms. I forget Shopify, you got, um, square space. Um, and there are just tons of e-commerce platforms. And there are so many ways to get wrapped up in, you know, these different fees. And when you’re just starting, you just gotta be careful on which platform you, Right. Yeah. And you should make sure that your business type if you’re going to use one of these platforms and do not allow outside credit card processing, you want to make sure that they’re going to work with your type of business. Because the worst thing I see happen is I get emails from people and they’re like, oh, I’m selling supplements. And I built, uh, you know, my website on Wix. This is one we had the other day. And then we will go to look and Wix no longer is the offer, offering authorized.net as an option. So now, you know, they’re, they’re going to have to move their platform to WordPress or something to get credit card processing. So it’s very important to make sure that whatever platform you’re using, that you’re able to use a third-party gateway, you know, and, or make sure that they work with your product so that you’re not paying extra fees, because some of these platforms are charging anywhere from 1%, 2%, a half a percent extra. If you use a third-party credit card processor, so press processor.

So I tell everybody to do their homework. The other thing is, is you should make sure, like, if you’re doing something that’s on a higher risks side, you know, you should make sure that, you know, what kind of fraud solutions do you need? You know, do you need 3d secure? Do you need, are you running a subscription program? So do you need to have subscription software? You know, we work with a lot of different gateways, authorized.net and MII USA, e-pay processing network, and many others work with probably about 15 different gateways. So there’s a lot of gateways out there that can service your business and, you know, recurring transactions and subscription transactions, those types of businesses, you qualify for emerging markets. So read about emerging markets on the NPS bank website, you get special rates from the credit card brands. And you know, if you’re not doing your homework and you’re just on some platform, they’re not offering you, the reduction that you could be getting and rate that could be anywhere from 1% up to 2% a difference if you’re set up properly. So if you’re an e-commerce merchant or you’re starting in e-commerce and you want to get some more information, get educated, there’s tons of material up on our website. You can also schedule a no-cost consultation on our website and we’ll, you can book, you know, a 30-minute appointment or a 15-minute appointment, and you can run your idea past us, and we’ll let you know if we can help you and everybody good luck make some business, make some money e-commerce is growing and it’s not stopping. And also with ecommerce, you can do buy now pay later, which I talked about a lot in my, uh, news roundups. And, you know, that’s also a big thing. So, you know, you have to be able to have flexible payment options on your website as well. Besides buy now pay later cryptocurrency. There are many things to consider with websites, you know, from payment options, fraud features had five chargebacks. Are you going to have a subscription model and more, so everybody good luck with e-commerce. Thank you for listening to B2B vault, follow us on social media, follow us on your favorite podcast network, and over and out.

merchant statement analysis
Merchant Statement Analysis | Merchant Services Statement Analysis
Merchant Statement Analysis | Merchant Services Statement Analysis


Related Articles

No Results Found

The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.

Share This